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Business Plan Template for Government Agencies

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Creating a solid business plan is essential for any organization, including government agencies. It's not just about setting goals and objectives, but also about efficiently utilizing resources and showcasing transparency. That's why ClickUp's Business Plan Template for Government Agencies is here to help!

With this template, government agencies can:

• Clearly define their strategic goals and objectives for maximum impact
• Develop actionable plans to allocate resources effectively and drive performance
• Demonstrate accountability to stakeholders and the public through transparent reporting

Whether you're a local council or a federal agency, ClickUp's Business Plan Template for Government Agencies empowers you to create a comprehensive and compelling roadmap for success—all in one centralized location. Start planning for a better future today!

Business Plan Template for Government Agencies Benefits

A business plan template for government agencies offers numerous benefits, including:

• Streamlining the strategic planning process and ensuring alignment with organizational goals and objectives
• Facilitating effective resource allocation and budget management to maximize efficiency and productivity
• Providing a clear roadmap for action, enabling agencies to prioritize initiatives and track progress
• Enhancing transparency and accountability by clearly communicating the agency's mission, vision, and performance metrics to stakeholders
• Enabling agencies to adapt and respond to changing priorities and external factors, ensuring long-term success and sustainability.

Main Elements of Government Agencies Business Plan Template

ClickUp's Business Plan Template for Government Agencies is designed to help government agencies effectively outline and manage their strategic goals, objectives, and action plans. Here are the main elements of this template:

• Custom Statuses: Easily track progress with four custom statuses - Complete, In Progress, Needs Revision, and To Do - to ensure that all tasks and sections of the business plan are properly managed and updated.
• Custom Fields: Use three custom fields - Reference, Approved, and Section - to add vital information and metadata to each task, allowing for easy organization and filtering of business plan sections.
• Custom Views: Utilize five different views, including Topics, Status, Timeline, Business Plan, and Getting Started Guide, to gain different perspectives on your business plan, track progress, and ensure alignment with strategic objectives.
• Collaboration and Accountability: Enhance collaboration and accountability by utilizing features such as task comments, mentions, file attachments, and assigning responsibilities to team members.
• Reporting and Analytics: Leverage ClickUp's reporting and analytics features to gain insights into progress, performance, and resource allocation, enabling effective decision-making and demonstrating accountability to stakeholders and the public.

How To Use Business Plan Template for Government Agencies

If you're a government agency looking to create a comprehensive business plan, follow these steps to make the process easier using the Business Plan Template in ClickUp:

1. Define your mission and objectives

Start by clearly defining the mission and objectives of your government agency. What is the purpose of your agency and what do you hope to achieve? This step is crucial as it sets the foundation for the rest of your business plan.

Use the Goals feature in ClickUp to create and track your agency's mission and objectives.

2. Assess your current situation

Take a deep dive into your agency's current situation. Analyze your strengths, weaknesses, opportunities, and threats (SWOT analysis). This will help you identify areas of improvement and potential challenges that need to be addressed in your business plan.

Use the Table view in ClickUp to create a SWOT analysis and track your agency's current situation.

3. Develop your strategies and action plans

Based on your mission, objectives, and SWOT analysis, develop strategies and action plans to achieve your goals. Outline the specific steps you will take to address the challenges identified and leverage your agency's strengths.

Use tasks in ClickUp to create action plans and assign responsibilities to team members.

4. Monitor and review

Once your business plan is in place, it's important to regularly monitor and review your progress. Keep track of key performance indicators (KPIs) and milestones to measure the success of your strategies and action plans. Make adjustments as needed to stay on track and ensure the continued success of your government agency.

Use Dashboards in ClickUp to visualize and monitor your KPIs and milestones.

By following these steps and utilizing the features in ClickUp's Business Plan Template, your government agency can create a well-structured and effective business plan to guide your operations and achieve your objectives.

Get Started with ClickUp’s Business Plan Template for Government Agencies

Government agencies can use the Business Plan Template for Government Agencies in ClickUp to streamline their strategic planning process and ensure alignment with organizational goals and objectives.

To get started, hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you'd like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

• Use the Topics View to outline and organize key sections and topics of your business plan
• The Status View will help you track the progress of each section, with statuses such as Complete, In Progress, Needs Revision, and To Do
• Utilize the Timeline View to set deadlines and visualize the timeline of your business plan
• The Business Plan View provides a holistic overview of your entire plan, allowing you to easily navigate between sections
• The Getting Started Guide View offers step-by-step instructions and guidance to help you kickstart your business plan creation process

Additionally, customize your business plan template with the following custom fields:

• Reference: Add references or sources to support your business plan
• Approved: Indicate whether each section has been approved or not
• Section: Categorize each section of your business plan for easy organization and filtering

With this template, government agencies can efficiently create, manage, and update their business plans, ensuring transparency, accountability, and successful execution of strategic initiatives.

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• Friday, May 17, 2024

How To Start A Government Contracting Business In 2022

• July 1, 2022

The entire commercial business industry was dealt with difficult cards for the past few years—from the COVID-19 shutdowns to the global supply chain disruptions. Countless small businesses closed their shutters for good, negatively impacting several industries. However, the government contracting industry stood its ground .

The stability in the face of uncertainty and the opportunity to earn lucrative profits are just some of the reasons why starting a government contracting business benefits you.

Table of Contents

What should your prepare to become a government contractor?

Evaluate whether government contracting aligns with your business goals.

The federal contracting industry is not an overnight miracle. Given how complicated this industry is, it requires patience, dedication, and strategy to make your business thrive in this industry.

Entering the federal contracting field unprepared will cost you. So before you decide to take the risk, make sure that this endeavor will be beneficial to your business’s overall growth. Study the pros and cons of government contracting, then measure it against your company’s goals. Once you have done that, see if this business opportunity plays to your strengths.

Seek government assistance for small businesses

The government contracting field is dominated by established government contracting firms. This may create an uneven playing field for small businesses, which is why government assistance programs, loans, and grants are available for qualified businesses.

The Small Business Administration ( SBA ), the official federal agency that promotes and protects small businesses, administers a number of contracting assistance programs, such as these:

8(a) Business Development Program

This program helps small businesses gear up to win local, state, and federal government contracts. Under the 8(a) program, small businesses can compete for set-aside contracts and participate in SBA’s Mentor-Protégé Program.

Participating small businesses will also receive one-on-one training with Business Opportunity Specialists and procurement and compliance experts. They can help budding government contractors assess their business readiness in competing for federal contracts.

Women-Owned Small Business Program

Women still face discrimination in various industries. So to ensure female business leaders will have equal access to contracting opportunities, this program gives them the opportunity for more contracting opportunities through set-asides .

Additionally, certified women-owned small businesses and economically-disadvantaged women-owned small businesses are given preferential consideration for open and full competition government contracts.

HUBZone Program

If your business is located in a Historically Underutilized Business Zone ( HUBZone ) and at least 35% of your employees reside in a HUBZone, you can apply for this federal assistance program. Small businesses under this program can compete for set-asides .

Veteran Assistance Programs

Retired veterans, particularly the service-disabled veterans who own small businesses, can apply for various assistance programs to kickstart their careers. Like other federal programs, veteran-owned small businesses are eligible to compete for exclusive government contracts for small businesses or set-asides .

Study your federal contracting market

Most businesses who enter the government contracting field want to earn ludicrous profits. But, the government contracting industry is a massive field, and shooting blindly will get you nowhere. If you want to make it big, you have to make a game plan—market research.

With that in mind, you must set your target federal agencies as early as possible. And once you have nailed down your prospective government agencies, you should dive deeper: study their demands and spending trends—and above all, get to know who you’ll be competing with.

For starters, you can get an overview of the government contracting field by checking previously awarded contracts at SAM.gov and viewing competitor profiles at Dynamic Small Business Search ( DSBS ). You can also use the forecast tool for contracting opportunities by the General Services Administration (GSA).

Get familiar with FAR

The Federal Acquisition Regulation ( FAR ) is the playbook of every government contractor and contracting officer in the industry. FAR illustrates the rules and regulations governing the government’s acquisition of goods and services using public funds.

Understanding the intricate government contracting processes requires time, dedication, and effort. You can also consult a legal representative or federal contracting assistance centers to help you understand it better.

Study the government regulations on businesses

To qualify as a government contractor, your business must be compliant with federal, state, and local business regulations. There are around 90,000 business laws and regulations in effect right now. But you can learn the major business regulations that you should pay closer attention to.

Additionally, there are contracting assistance centers that can connect you with compliance experts. They will help you understand the legal implications of failing to follow the regulations and assess your business’s regulatory compliance.

What are the requirements to start a government contracting business?

Acquire the necessary business permits and licenses

As previously stated, the government is very particular about the companies it does business with. In addition to being a regulation-compliant business, it must possess the necessary licenses to prove its capabilities in performing the required services.

Register at SAM

SAM , or System for Award Management, is a one-stop platform for federal agencies and government contractors. On this website, government agencies can publish open contracts for bidding, and federal contractors can take a shot at bidding for the said contracts.

However, only SAM-registered entities can qualify for government contracts. You can view the complete list of requirements needed to register at SAM, but in general, here are the primary documents you have to prepare before your registration:

Unique Entity ID (UEI)

The federal government has finally moved away from requiring its contractors to request their DUNS Numbers. To streamline this process, government contractors can get their UEI at SAM.gov . Here is the guide on how you can request your UEI.

North American Industry Classification Code (NAICS Code)

NAICS Codes are a special set of codes representing your company’s industry. This code is used by contracting officers to identify the nature of your business and see if you fit the contract.

You can get your NAICS Codes by visiting this self-service website . Select which among the codes best describes your business. If your business belongs to two or more categories, you can select more than one NAICS Code.

Core Business Information

The Core Business Information refers to your business details, such as your business structure, physical and mailing address, organization start date, and more .

Financial Information

The government will ask for your financial information to know your preferred payment method. Additionally, the government will also use this to set up your Electronic Funds Transfer (EFT).

CAGE / NCAGE Code

The CAGE and NCAGE codes are identifiers assigned by the government, particularly by defense agencies. CAGE Codes are assigned to U.S. entities, while NCAGE Codes are awarded to businesses outside the U.S. and its territories.

The Commercial and Government Entity (CAGE) Code is automatically assigned to a U.S. entity after registering at SAM.gov . Meanwhile, non-U.S. entities should request their NATO Commercial and Government Entity (NCAGE) Code before registering at SAM.gov .

Keep tabs on federal contracting opportunities

Once you have successfully registered your business at SAM.gov , you should now learn how to scout for contract opportunities. Fortunately, you don’t have to search high and low to explore the latest contract opportunities—you can do it at SAM.gov !

Back then, the federal government used the Federal Business Opportunities Website (FedBizOpps) to publish contract opportunities. But the government has integrated the functionalities of this website into the SAM.gov website for a more streamlined experience.

Explore subcontracting

The road to becoming a federal contractor can be challenging, especially for a green small business owner. But, businesses can try their hand first in subcontracting for prime contractors.

Subcontractors do not work directly with government agencies. Instead, they lend their specialized expertise to prime contractors to fulfill one area of a federal contract. The requirements to become a subcontractor are less demanding than a prime contractor , making contracting more accessible to small businesses.

Get your business known

Building a solid reputation and portfolio is crucial in this line of work. However, getting your business known by your target government agencies can be pretty daunting, especially if you don’t know where to begin. But we got your back!

Attend Networking Events

Being in the same room with other federal contracting giants can be overwhelming. But if you look at it from another angle, you will realize that you are surrounded by opportunities.

Networking , when done right, can give you access to a myriad of opportunities that grow your business and expand your vision as a leader. Contrary to popular belief, networking is not merely “politicking.” It means fostering meaningful relationships with your peers.

Build Social Media Presence

On top of attending networking events, you should not forget the power of the internet. Platforms like LinkedIn and Facebook are excellent places to build your online presence and network with other contracting professionals.

Learn how to write bids for government contracts

Once you have laid out your foundations, the next thing you need to do is learn how to write bids for federal contracts. Winning a contract bid is your ticket to becoming a full-fledged federal government contractor. So, here are some bid writing tips that can help you finally board the plane of government contracting:

Choose federal contracts that align with your business’s strengths and goals

Sending out contract bids en masse in hopes of landing a single win is a wasteful endeavor.

Writing a contract bid proposal will consume time, money, and effort. Therefore, to write a winning contract bid, you must select which federal opportunities are most suited for your businesses.

Analyze the RFP document

The Request for Proposal (RFP) is among the ways the federal government solicits contract proposals.

The RFP document is usually a hundred-page document that states everything you need to know about a contract opportunity—timeframe, task, budget, and other related details. At a glance, reading through a hundred-page material might be too cumbersome. But, this will ultimately help you craft your proposal.

There are several factors to consider when reviewing this document, but you must pay closer attention to sections B, C, L, and M.

Strictly adhere to the instructions stated in the RFP

It pays to be detail-oriented in this phase of writing. In Section L of the RFP document, the requesting federal agency will lay out its detailed requirements for the proposal—from the document’s font style and size to the proper email address to which the proposal should be submitted.

Neglecting to follow their instructions can eliminate your contract proposal from the pool.

Create a bid outline

The next step of the writing process is to draft an outline. This will prevent your proposal from being derailed and, ultimately, speed up your writing.

When creating an outline for your proposal, consider several factors that the federal agency will look for, such as your business identity, capability statement, portfolio, and plan on how you will execute the contract.

Price your contract competitively

When pricing your goods and services, you should be in the know of its market prices. You can neither price it too low nor too high.

Price it cheap and you may endanger the financial stability of your company, and even cast doubt on your ability to deliver quality products and services. On the other hand, if you price it ludicrously, the federal government will simply look for other cost-efficient government contractors.

Going to the extreme ends of the spectrum will not do you any good. Keep in mind that the federal government is looking for contractors who can deliver quality work that falls within justifiable costs.

Review your proposal before submitting

The last thing you want is your contract bid to be discarded due to technicalities. To avoid this from happening, bring in a trusted set of eyes to review your federal contract bid to catch any errors and point out questionable details that you have missed out on before.

Learn the terms, the contract bid writing process, and how contracting officers will evaluate your proposal in this contract bid writing guide .

The federal government offers some of the best opportunities, especially for small companies. But to become eligible for these contract opportunities, you must first make the necessary preparations to become a government contractor. Once you have laid out your foundations, you should sharpen your writing skills to win a contract bid.

Video of the Day

How to Optimize Your Federal Business Development Workflow

IN THIS ARTICLE

How to Define Your Federal Business Development Strategy

Difficulties in federal business development, tools and intelligence to streamline your workflow.

[Use Bloomberg Government’s focused data sets, proprietary tools, and expert analysis to fill your pipeline and grow your business now.]

Managing federal business development workflows can quickly become an unwieldy process, especially when it involves large government contracts that need input and coordination across multiple parties. Building and monitoring the entire opportunity pipeline, from the initial draft request for proposal to winning the final contract, often requires extensive research on information that’s fragmented across multiple platforms, spreadsheets, emails, and messages.

For business developers, this means a lot of time spent finding and gathering both quantitative and qualitative data on individual opportunities, market trends, government spending, networks and partnerships. Optimizing this workflow is essential to building robust pipelines, closing contracts, and growing your federal business.

Winning Federal Contracts on the Top 20 Contract Vehicles

With the right strategy in place, contractors can find and win new contracts for a predictable pipeline.

Before you’re able to optimize your workflow, you must first define your business development strategy. This is the plan of action your company will use to identify new opportunities, build out their pipeline, write the proposals, and ultimately win contracts. Accomplishing this goal requires a detailed plan and an immense amount of research into market conditions, government spending trends, and competitor analysis.

To define your company’s business development strategy and optimize your workflow, consider conducting both a Black Hat and White Hat review. These assessments provide valuable insights into the current market size, your company’s current position in it, and your competitors’ strengths and weaknesses.

The Data You Need

Gain the certainty you need for your business through key information on all federal budget, solicitation, and spending activities.

Black Hat Review

A Black Hat review is all about the competition. You’ll want to write a proposal from their point of view to gain a better understanding of how they would secure the deal. Make a note of any advantages your competitors might have, either in the products or services themselves or their opportunity funnels, and keep track of their weak points.

This exercise can help you determine how your company stacks up to the competition, the right competitive price point at which to market your solution, and whether or not you can win the contract. You’ll also gain key insights on how to position your company against your competitors while building customer relationships with program managers and contracting officers.

White Hat Review

Whereas a Black Hat review focuses on your competitors, a White Hat review targets your company’s capabilities and solutions. This is when you utilize the actionable information from research and assessments to improve your win probability.

Assess and minimize your own weak spots, and explore how your market solutions compare to the competition. It might reveal that you need a partner for a contract or that a niche is oversaturated. In any case, you can use this time to tackle any internal issues, adjust pipeline goals, and target competitor pitfalls with your solutions.

[Explore the tenth annual  BGOV200 Federal Industry Leader rankings  and download the full report.]

While it might be easy to say “define your business development strategy,” taking the necessary actions to create and implement a detailed pipeline plan is no simple feat. Business developers face many challenges throughout their workflows, from time-consuming research on opportunities to qualifying partnerships and contract leads.

Some common frustrations among business development teams include:

• Identifying areas of opportunity in a niche market.
• A shortage of pipeline opportunities and inaccurate information.
• Aggregating and analyzing accurate, reliable data and contracts to win work.
• Staying up-to-date on government spending trends and market conditions.
• Finding the right agency and vendor contacts.
• Facilitating calls or meetings to gain information and expand their networks.
• Clearly communicating with contracting officers.
• Ensuring accurate release dates for RFPs.

With information buried across a multitude of channels, business developers spend most of their time tracking it down or contacting people. These difficulties often hinder strategic growth planning, resulting in companies falling short of their pipeline goals. However, there are strategies and solutions that can help you overcome these hurdles with numerous added benefits.

Bloomberg Government offers a powerful suite of features designed to optimize your entire federal contracting workflow. With BGOV, business developers can easily create viable pipelines that win task orders on contracts and close deals.

Opportunity Search is the market’s most comprehensive search tool. With fast, accurate, and reliable information and access to a vast database of 31+ million contracts, BGOV provides business developers with the resources they need to save time while pursuing government contract opportunities.

BGOV Alerts offers proactive email updates on opportunities and markets of interest. Based on recompete data, machine learning algorithms can forecast which competitors might bid on the same project. BGOV Workspaces can also help you build your pipeline, qualify potential opportunities, and collaborate with team tools.

Backed by the power of Bloomberg News and proprietary expert analytics combined with powerful market intelligence tools provide business developers with a centralized platform for reliable information on current market conditions, government spending trends, and new contract opportunities. Not only does this present valuable context for current strategies and business decisions, it also saves time researching information by organizing disparate data stored on separate systems platforms.

With enhanced pipeline visibility and access to key market insights and information, BGOV enables business developers to produce accurate forecasting and strong opportunity pipelines. This translates into more contracts won and deals closed, growing your federal contracting business and network.

Market Intelligence to Inform Business Development

Bloomberg Government is your source for news, analysis, and data that covers mission-critical developments. From purchasing trends to supply chain, with BGOV, you’re always a step ahead.

Bloomberg Government helps you streamline the process of taking an opportunity search result from potential to pipeline – and proposal ready. Unparalleled document search capabilities allow you to seek out undiscovered opportunities, gaining a competitive advantage. Track these solicitations and perform competitive analysis to better understand your current market position. Competitive and contract intelligence provides you with accurate, up-to-date information so you can save time on research and focus on business development.

With Bloomberg Government, you receive reliable, actionable data that can propel your opportunities through your pipeline and deliver results. To learn more about how BGOV can help optimize your business development workflows, request a demo .

Find the right opportunities with BGOV’s unmatched data sets.Enhance your view of the market. Opportunity Search enables you to find and exclude keywords in documents attached to solicitation notices to surface relevant opportunities in no time at all.

Request a demo

Reference Shelf

• Report: BGOV200 Federal Industry Leader rankings
• Webinar: Contracts to Watch: GWACs & MACs
• Article: Partnering with 8(a) companies as a large contracting firm
• Article: The Top 10 IT Contractors
• Article: Federal Contract Spending Trends in Five Charts
• Article: How to Build Your Pipeline With the Right Federal Contracts
• Article: How to Size Your Market to Strategically Grow Your Federal Business

How Lobbying Firms are Changing their Structures and Advocacy Strategy

Contractor impacts: fy24 defense appropriations, artificial intelligence market profile.

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Write a business plan

Download free business plan templates and find help and advice on how to write your business plan.

Business plan templates

Download a free business plan template on The Prince’s Trust website.

You can also download a free cash flow forecast template or a business plan template on the Start Up Loans website to help you manage your finances.

Business plan examples

Read example business plans on the Bplans website.

How to write a business plan

Get detailed information about how to write a business plan on the Start Up Donut website.

Why you need a business plan

A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.

A business plan helps you to:

• clarify your business idea
• spot potential problems
• set out your goals
• measure your progress

You’ll need a business plan if you want to secure investment or a loan from a bank. Read about the finance options available for businesses on the Business Finance Guide website.

It can also help to convince customers, suppliers and potential employees to support you.

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U.S. Department of the Treasury

Treasury department announces new funding to support small businesses in six states and three u.s. territories as part of the biden-harris administration’s investing in america agenda.

WASHINGTON – As part of the Biden-Harris Administration’s Investing in America Agenda, the U.S. Department of the Treasury today announced six new awards to states and two new awards to territories under the State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Program, totaling more than $27 million. These awards will be used to provide legal, accounting, and financial advisory services to eligible small businesses applying for the SSBCI capital program and other government small business programs. In addition, the Department is announcing an award of more than $57 million for American Samoa under the SSBCI Capital Program. 

“The Biden-Harris Administration continues to invest in the historic small business boom by providing small businesses and entrepreneurs the resources they need to succeed,” said Deputy Secretary Wally Adeyemo. “Today's announcements will help unlock the potential of entrepreneurs in underserved communities across the nation who have not had the support to pursue their business ideas and ambitions.” 

President Biden’s American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly successful in increasing access to capital for small businesses and entrepreneurs. The new SSBCI builds on this successful model by providing nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and promote entrepreneurship, especially in traditionally underserved communities. SSBCI funding is expected to catalyze up to $10 of private investment for every $1 of SSBCI capital funding, amplifying the effects of this funding and providing small business owners with the resources they need to sustainably grow and thrive.   

The expanded SSBCI includes funding for technical assistance to help very small businesses – defined as businesses with fewer than 10 employees, including independent contractors and sole proprietors – and underserved small businesses apply for the SSBCI Capital Program and other government small business programs. The Treasury Department’s SSBCI Technical Assistance Grant Program and the newly announced SSBCI  Investing in America Small Business Opportunity Program  are both designed to complement the SSBCI Capital Program. While access to capital is a key component for small business stability, resiliency, and growth – particularly for historically underserved small businesses – additional technical support will help small businesses secure and maximize that capital. The Technical Assistance Program will provide vital aid to help small businesses become “capital ready” by preparing them to take on loans or investment and steward capital for small business success.        

From today’s awards, here are examples of how Bidenomics is helping expand access to capital and provide legal, accounting, and financial advisory services to small businesses:  

• West Virginia , approved for $1.5 million in Technical Assistance (TA) grant funding, will work with Partner Community Capital, Inc. (PCAP) to administer its TA program to applicants and participants of the West Virginia Capital Access Program. PCAP, a leading Community Development Financial Institution serving small businesses in West Virginia, will provide financial advisory services, one-on-one consulting, and educational programs. West Virginia anticipates that it will serve 140 small businesses through the four-year program, including up to 10 start-up small businesses a year.  
• Puerto Rico , approved for $3.8 million in SSBCI TA grant funding, will utilize the Economic Development Bank of Puerto Rico (EDB) to provide legal, accounting, and financial advisory services to companies preparing to apply for support from state and/or federal small business programs and connect companies directly with its SSBCI-supported capital programs. The EDB will conduct data analysis to understand small business TA needs and continually evaluate desired program outcomes and will provide group training sessions, one-on-one counseling, and online education to prepare small businesses to apply for funding. 
• Kansas , approved for $1.3 million in SSBCI TA grant funding, will work with the Kansas Department of Commerce and NetWork Kansas to identify underserved and very small businesses and match those businesses with technical assistance resources pre- and post-funding. NetWork Kansas estimates that it will provide technical assistance to 300 small businesses over the 5-year grant period and that 150 of these businesses will subsequently attract capital.  
• American Samoa , approved for up to $57 million in SSBCI Capital funding, will operate four programs, including a loan guarantee program which will provide a partial guarantee to support surety bonds and lines of credit, and an equity/venture capital program which will make direct investments in local small businesses and projects. 

A full list of award descriptions for states receiving these funds is available here . 

To date, the Treasury Department has announced the approval of more than $135 million in technical assistance grants to 40 states and territories. In addition, the Department has announced the approval of state, territory, and Tribal government plans corresponding to more than $8.4 billion in funding under the SSBCI Capital Program to support small business and entrepreneurship and expand access to capital. 

Go to homepage business.govt.nz business.govt.nz

Business.govt.nz, in association with, how to write a business plan.

There isn’t a one-size-fits-all formula to write a business plan. But there are some key things to consider. Check out our free templates — one for start-ups and a quick-focus template for growing businesses.

Tips for preparing a business plan

• Be clear and focused about what you want to achieve – this will help align your team so you’re all working toward the same thing.
• Choose the type of business plan that works for you – you may like to have a document, or a business canvas might work better.
• Keep it short, simple and easy to understand.
• Keep your goals realistic and relevant to what is going on in the economy and in your industry.
• Use Stats NZ’s Data for Business website to find useful business tools and statistics.
• Contact Stats NZ to get useful business data.
• Get out and speak with your customers to gain understanding of how your product works for them and whether it’s something they would pay for.
• Do a SWOT analysis to determine your strengths, weaknesses, opportunities and threats.
• Ask your advisor or mentor to review your plan and give you feedback and suggested improvements.

Data for Business (external link) — Stats NZ

Call Stats NZ toll-free on 0508 525 525

Use this free template to help you write a great plan for launching your new business.

A business plan helps you set goals for your business, and plan how you’re going to reach them. When you’re starting out it’s a good idea to do a full and thorough business plan.

Quick-focus business plan

Quick-focus planning to make sure you work on the right things for your growing business - every day.

It’s important to take time to reflect on your business strategies and plan. It doesn’t have to be a difficult or time-consuming task.

Implementing your business plan

• Keep your business plan as a living document – don’t leave it to gather dust on a shelf.
• Make sure it’s easily accessible and top-of-mind for you and your team.
• Reflect your goals in the day-to-day operations of your business.
• Outline the most practical and cost-effective way to achieve each goal – make a note of any extra resources you’ll need.
• Make it clear these goals are the top priority for the business.

SWOT your business, and your competition

A SWOT analysis is a great way to assess what your business does well, and where you’ll need to improve. It can also help you identify ways you can exploit opportunities, and to identify and prepare for potential threats to your business success.

Strengths and weaknesses are typically inside your business — what are you good at, what are you not so good at — while opportunities and threats are external factors.

It can be as simple as drawing a large square, and dividing it into four quadrants – one for each element of the SWOT analysis.

Think about what you, your team, and your business are good at – all the attributes that will help you achieve your goals, for example, what you (and your team) do well, any unique skills or expert knowledge, what you/your business do better than your competitors, good processes and systems, and where your business is most profitable.

Think about the things that could stop you from achieving your objectives. This might include what costs you time and/or money, the areas you or your company need to improve in, what resources you lack, which parts of the business aren’t profitable, poor brand awareness, disorganised processes, or a poor online presence. Think about what you can do to minimise your weaknesses.

Opportunities

Think about the external conditions that will help you achieve your goals. How can you do more for your existing customers, or reach new markets? Are there related products and services that could provide opportunities for your business, and how could you use technology to enhance your business?

Consider the external conditions that could damage your business's performance – things like what’s going on in your industry, and in the economy, the obstacles you face, the strengths of your biggest competitors, and things your competitors are doing that you're not. Think about how you could try to minimise or manage the threats.

Repeat the exercise for your competition too – it’ll help you identify areas where you can beat them, to fine-tune your niche market, and make sure you’re prepared to address the challenge they pose.

Refine and review

Craig Jackson has dabbled in business planning before. But when he set up his ice pop business Dr Feelgood, he decided to work with a mentor.

“She was instrumental to pushing us to a very healthy product. Our first business plan was 47 pages long. It came down to four pages, which distilled down what we were doing and how we look at it,” says Jackson.

“It’s really important to ask ‘do people want your product’ and then ‘are there enough of them to buy it’? Our market validation was me going around gas stations, cafes, dairies and looking in freezers and talking to freezer managers and talking to our friends.”

Jackson regularly reviews progress against his business plan. “We’ve hit all our targets, but have learnt a lot in the first six months of operating. Places I thought we’d really sell, we don’t, and places I thought we’d never go is where we’re going.”

Review your business plan

• Check how you’re tracking to reach key milestones in your business plan every month, and celebrate when these have been reached.
• Stay on top of industry trends and stay connected with your customers – this will help you keep ahead of any changes needed in your business.
• Update your business plan with any changes affecting your business or industry.

Tips on when business planning is right for your business

Tips on types of advice you’ll need

Common mistakes

Not being able to clearly articulate your business and the value it offers to customers.

Making assumptions about your customers rather than speaking with them.

Not reviewing and monitoring your business plan.

Setting unrealistic or uninformed targets.

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550+ Business Plan Examples to Launch Your Business

Need help writing your business plan? Explore over 550 industry-specific business plan examples for inspiration.

Find your business plan example

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Business plan template: There's an easier way to get your business plan done.

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• Event Planning
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• Agri-tourism
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• Equipment Rental

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View all sample business plans

Example business plan format

Before you start exploring our library of business plan examples, it's worth taking the time to understand the traditional business plan format . You'll find that the plans in this library and most investor-approved business plans will include the following sections:

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally only one to two pages. You should also plan to write this section last after you've written your full business plan.

Your executive summary should include a summary of the problem you are solving, a description of your product or service, an overview of your target market, a brief description of your team, a summary of your financials, and your funding requirements (if you are raising money).

Products & services

The products & services chapter of your business plan is where the real meat of your plan lives. It includes information about the problem that you're solving, your solution, and any traction that proves that it truly meets the need you identified.

This is your chance to explain why you're in business and that people care about what you offer. It needs to go beyond a simple product or service description and get to the heart of why your business works and benefits your customers.

Market analysis

Conducting a market analysis ensures that you fully understand the market that you're entering and who you'll be selling to. This section is where you will showcase all of the information about your potential customers. You'll cover your target market as well as information about the growth of your market and your industry. Focus on outlining why the market you're entering is viable and creating a realistic persona for your ideal customer base.

Competition

Part of defining your opportunity is determining what your competitive advantage may be. To do this effectively you need to get to know your competitors just as well as your target customers. Every business will have competition, if you don't then you're either in a very young industry or there's a good reason no one is pursuing this specific venture.

To succeed, you want to be sure you know who your competitors are, how they operate, necessary financial benchmarks, and how you're business will be positioned. Start by identifying who your competitors are or will be during your market research. Then leverage competitive analysis tools like the competitive matrix and positioning map to solidify where your business stands in relation to the competition.

Marketing & sales

The marketing and sales plan section of your business plan details how you plan to reach your target market segments. You'll address how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success.

The operations section covers the day-to-day workflows for your business to deliver your product or service. What's included here fully depends on the type of business. Typically you can expect to add details on your business location, sourcing and fulfillment, use of technology, and any partnerships or agreements that are in place.

Milestones & metrics

The milestones section is where you lay out strategic milestones to reach your business goals.

A good milestone clearly lays out the parameters of the task at hand and sets expectations for its execution. You'll want to include a description of the task, a proposed due date, who is responsible, and eventually a budget that's attached. You don't need extensive project planning in this section, just key milestones that you want to hit and when you plan to hit them.

You should also discuss key metrics, which are the numbers you will track to determine your success. Some common data points worth tracking include conversion rates, customer acquisition costs, profit, etc.

Company & team

Use this section to describe your current team and who you need to hire. If you intend to pursue funding, you'll need to highlight the relevant experience of your team members. Basically, this is where you prove that this is the right team to successfully start and grow the business. You will also need to provide a quick overview of your legal structure and history if you're already up and running.

Financial projections

Your financial plan should include a sales and revenue forecast, profit and loss statement, cash flow statement, and a balance sheet. You may not have established financials of any kind at this stage. Not to worry, rather than getting all of the details ironed out, focus on making projections and strategic forecasts for your business. You can always update your financial statements as you begin operations and start bringing in actual accounting data.

Now, if you intend to pitch to investors or submit a loan application, you'll also need a "use of funds" report in this section. This outlines how you intend to leverage any funding for your business and how much you're looking to acquire. Like the rest of your financials, this can always be updated later on.

The appendix isn't a required element of your business plan. However, it is a useful place to add any charts, tables, definitions, legal notes, or other critical information that supports your plan. These are often lengthier or out-of-place information that simply didn't work naturally into the structure of your plan. You'll notice that in these business plan examples, the appendix mainly includes extended financial statements.

Types of business plans explained

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. To get the most out of your plan, it's best to find a format that suits your needs. Here are a few common business plan types worth considering.

Traditional business plan

The tried-and-true traditional business plan is a formal document meant to be used for external purposes. Typically this is the type of plan you'll need when applying for funding or pitching to investors. It can also be used when training or hiring employees, working with vendors, or in any other situation where the full details of your business must be understood by another individual.

Business model canvas

The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

The structure ditches a linear format in favor of a cell-based template. It encourages you to build connections between every element of your business. It's faster to write out and update, and much easier for you, your team, and anyone else to visualize your business operations.

One-page business plan

The true middle ground between the business model canvas and a traditional business plan is the one-page business plan . This format is a simplified version of the traditional plan that focuses on the core aspects of your business.

By starting with a one-page plan , you give yourself a minimal document to build from. You'll typically stick with bullet points and single sentences making it much easier to elaborate or expand sections into a longer-form business plan.

Growth planning

Growth planning is more than a specific type of business plan. It's a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, forecast, review, and refine based on your performance.

It holds all of the benefits of the single-page plan, including the potential to complete it in as little as 27 minutes . However, it's even easier to convert into a more detailed plan thanks to how heavily it's tied to your financials. The overall goal of growth planning isn't to just produce documents that you use once and shelve. Instead, the growth planning process helps you build a healthier company that thrives in times of growth and remain stable through times of crisis.

It's faster, keeps your plan concise, and ensures that your plan is always up-to-date.

Download a free sample business plan template

Ready to start writing your own plan but aren't sure where to start? Download our free business plan template that's been updated for 2024.

This simple, modern, investor-approved business plan template is designed to make planning easy. It's a proven format that has helped over 1 million businesses write business plans for bank loans, funding pitches, business expansion, and even business sales. It includes additional instructions for how to write each section and is formatted to be SBA-lender approved. All you need to do is fill in the blanks.

How to use an example business plan to help you write your own

How do you know what elements need to be included in your business plan, especially if you've never written one before? Looking at examples can help you visualize what a full, traditional plan looks like, so you know what you're aiming for before you get started. Here's how to get the most out of a sample business plan.

Choose a business plan example from a similar type of company

You don't need to find an example business plan that's an exact fit for your business. Your business location, target market, and even your particular product or service may not match up exactly with the plans in our gallery. But, you don't need an exact match for it to be helpful. Instead, look for a plan that's related to the type of business you're starting.

For example, if you want to start a vegetarian restaurant, a plan for a steakhouse can be a great match. While the specifics of your actual startup will differ, the elements you'd want to include in your restaurant's business plan are likely to be very similar.

Use a business plan example as a guide

Every startup and small business is unique, so you'll want to avoid copying an example business plan word for word. It just won't be as helpful, since each business is unique. You want your plan to be a useful tool for starting a business —and getting funding if you need it.

One of the key benefits of writing a business plan is simply going through the process. When you sit down to write, you'll naturally think through important pieces, like your startup costs, your target market , and any market analysis or research you'll need to do to be successful.

You'll also look at where you stand among your competition (and everyone has competition), and lay out your goals and the milestones you'll need to meet. Looking at an example business plan's financials section can be helpful because you can see what should be included, but take them with a grain of salt. Don't assume that financial projections for a sample company will fit your own small business.

If you're looking for more resources to help you get started, our business planning guide is a good place to start. You can also download our free business plan template .

Think of business planning as a process, instead of a document

Think about business planning as something you do often , rather than a document you create once and never look at again. If you take the time to write a plan that really fits your own company, it will be a better, more useful tool to grow your business. It should also make it easier to share your vision and strategy so everyone on your team is on the same page.

Adjust your plan regularly to use it as a business management tool

Keep in mind that businesses that use their plan as a management tool to help run their business grow 30 percent faster than those businesses that don't. For that to be true for your company, you'll think of a part of your business planning process as tracking your actual results against your financial forecast on a regular basis.

If things are going well, your plan will help you think about how you can re-invest in your business. If you find that you're not meeting goals, you might need to adjust your budgets or your sales forecast. Either way, tracking your progress compared to your plan can help you adjust quickly when you identify challenges and opportunities—it's one of the most powerful things you can do to grow your business.

Prepare to pitch your business

If you're planning to pitch your business to investors or seek out any funding, you'll need a pitch deck to accompany your business plan. A pitch deck is designed to inform people about your business. You want your pitch deck to be short and easy to follow, so it's best to keep your presentation under 20 slides.

Your pitch deck and pitch presentation are likely some of the first things that an investor will see to learn more about your company. So, you need to be informative and pique their interest. Luckily we have a round-up of real-world pitch deck examples used by successful startups that you can review and reference as you build your pitch.

For more resources, check out our full Business Pitch Guide .

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Writing a business plan

A business plan documents your objectives and the strategies and structures you have in place for achieving them.

Your business plan should explain how you will manage all the important aspects of your business, from products and services to operational plans and finances.

Video: Writing a business plan

Watch our video on why you should write a business plan for your new or current business.

Topics include:

• why it's important to create and review a business plan
• the information to include in your business plan
• using a business plan to achieve your business goals
• downloading and completing our business plan template.

Use a business plan to:

• help you start a new business
• help you improve the performance of an existing business
• attract funding for an investment
• communicate business progress to stakeholders
• communicate business goals and objectives to internal staff members
• attract potential buyers for the business.

A business plan is a 'living' document, so it should evolve and change—think of it as an operating guide for your business throughout the start-up, operations and succession phases.

Download and write a full business plan

Download our free full business plan template and use the guidelines below to write a plan for your business.

There are also other templates available that may better meet your needs—visit business.gov.au .

You should customise your chosen template to suit your business and industry.

We explain below how you can start with a 1-page business plan to ease you into the process of completing the full business plan.

Business plan elements

The elements of your business plan will vary depending on:

• what phase your business is in (starting, running, selling)
• the industry your business is in
• how you choose to use the plan (e.g. for internal development purposes).

Every business plan will be different, but they will generally include similar elements. The sections of our business plan template are listed below—use these as a guide when completing it or as a reference when creating your own.

At the start of your business plan, include the following business details:

• business name
• date registered
• Australian Business Number (ABN)
• Australian Company Number (ACN) – if applicable
• tax file number (TFN)
• business address
• contact details
• website details
• social media details.

Read about choosing a business structure and getting the right licences and registrations .

This section provides an overview of the business concept. It should be attention-grabbing and succinct—the content will be covered in more detail in future sections.

While this is the first section of the plan, it can often help to write it last after the other sections have been finalised.

This helps to ensure that the executive summary covers all the key information within the plan.

It should define:

• what your business vision is
• what your legal structure is
• what products and services you offer
• who your customers are
• what sets you apart from your competitors
• how you will create a market for your products and services
• how you will operate
• what your financial projections are
• how your business or industry will evolve
• who owns or manages your business
• what your short-term and long-term goals are.

Refer to the corresponding sections in our free business plan template:

• 2.1 Products and services
• 2.2 Market analysis
• 2.3 Industry description and outlook
• 2.4 SWOT analysis

In this section, you should highlight your business products and services and describe what makes them unique, such as their:

• limitations
• cost and sale price.

You can also include details of any plans your business has to introduce new products and services.

Your market analysis should describe your target market (e.g. local, international) and target customers.

Add in the research you have done about your industry and the market trends.

In this section, you will also complete a SWOT analysis (strengths, weaknesses, opportunities, threats).

Find out more about researching your market:

• planning and conducting market and customer research
• market research kit .
• 3.1 Current situation
• 3.2 Marketing objectives
• 3.3 Target segments
• 3.4 Competitor analysis
• 3.5 Brand positioning
• 3.6 Marketing programs
• 3.7 Marketing tactics
• 3.8 Key actions
• 3.9 Business controls

A business plan should include a high-level summary of your market research and analysis.

Starting with your current situation, complete your marketing objectives and analysis around your target market and your competitiveness.

Complete your customer and competitor profiles and develop a 1-page brand strategy .

These will help you prepare your marketing plan in section 3 of the template.

Your plan will include marketing tactics and an action plan. You will identify how you will set KPIs and report on your marketing effectiveness.

Learn about:

• branding your business
• writing a marketing strategy and plan .
• 4.1 Sales strategies
• 4.2 Sales analysis and forecast
• 4.3 Customer management

Explain your sales forecasts and targets in this section, and how you will manage customer records and payments. You should understand what sales strategies will work for you and the best channels to market your products or services .

You will also need to know what your current sales, volume and market share are and what you expect them to be for the next 2 years.

Learn about cash flow, invoices and payments and how to collect and store customer information for help with managing customers.

Regardless of your business or industry, you will need to prepare for operating some of your business online.

Note your digital and customer and data-protection strategies in your business plan. You could also include:

• the digital tools and resources that will be used in your business
• the people responsible for overseeing the digital strategy within the business
• details of any security considerations.

Complete a digital health check and learn how to create a digital strategy for your business .

• 6.1 Business structure
• 6.2 Contracts, licences and agreements
• 6.3 Intellectual property
• 6.4 Insurance
• 6.6 Employees
• 6.7 Financial
• 6.8 Legal and ethical trading
• 6.9 Risk management
• 6.10 Business continuity

In this section, record the legal and risk management considerations for your business.

Describe your business structure and the contracts you have now or could have in the future.

If you have a lease or are considering leasing premises, add the terms and conditions of the lease and any actions you need to take to your plan.

To complete the other legal section, learn about:

• legal requirements for businesses
• selecting the right business location
• business insurance
• intellectual property: the basics
• legal and ethical selling
• your responsibilities as an employer .

Search the Australian Business Licence and Information Service (ABLIS) if you need information about licences that relate to your business.

To identify the risks to your business, your business plan should also:

• outline and demonstrate that you have considered the risks to your business (a business risk analysis) and the possible consequences
• summarise the plans you have in place for overcoming these risks.

A risk matrix tool or risk management plan can be developed to help you analyse your business risks—read more about identifying and managing business risk .

You will also need to consider business continuity planning to prepare for unexpected situations.

• 7.1 Location
• 7.2 Production
• 7.3 Current performance
• 7.4 Plant and equipment
• 7.6 List of major suppliers
• 7.7 Stock and inventory

This section will cover all you know about how you do things in your business—for example, your standard operating procedures and how to ensure the quality of your products and services.

To better understand your business operations, read about:

• business processes, procedures and standards
• choosing the right business location
• stock control: the basics .
• 8.1 Management and key personnel
• 8.3 Training
• 8.4 Recruitment
• 8.5 Succession planning

This section helps you note your current workforce structure and plan for the workforce you will have in the future as you grow, and for potentially passing the business to a successor.

Your business plan will detail your business's organisational structure (proposed or actual)—this is often shown as a diagram representing the business hierarchy, different roles within the business and how they relate to one another.

You should also consider succession planning, even if you haven't thought about how you would sell or pass on the business.

• workforce planning for small business
• training and developing staff
• passing a business to a successor .
• 9.1 Start-up costs
• 9.2 Profit and loss forecast
• 9.3 Cash flow forecast
• 9.4 Balance sheet
• 9.5 Financial ratios

Your business plan should include your business finance details—there is a separate business finance template you can also complete.

Summarise your key financial details, including:

• costs for establishing or operating the business
• sales needed to break even
• projected cash flow
• funding arrangements
• payment plans.

You can assess the financial performance of your business using financial ratios .

• 10.1 Review and update business goals
• 10.2 Make a schedule to review your actions

The final section of the business plan should include a set of actions to take before you review your business plan next, and check your progress. This should be over a 6–12 month period, based on the business goals outlined in your plan.

Set a regular review date for the actions and the business plan. Assess which actions have been completed, which remain outstanding and which require updating to help your business plan remain relevant.

Read about skills for running a business to consider ways to improve your time management and leadership.

Optional business plan elements

While not essential, the following can supplement your business plan.

Business vision statement and business values

A comprehensive business vision statement defines what your business does and why it is important.

This could be added in more detail in your business plan and referred to in your executive summary. Find out how to create a business vision .

Business values are the principles, beliefs, and standards of behaviour that guide your business. Including this in your plan will better reflect your goals for the business.

Customer journey strategy

This section could include details of your business's key customer service strategies.

Consider mapping out the intended customer journey—the intended path customers will follow when interacting with your business.

Start with a short business plan

A 1-page business plan can be a good place to start your business planning.

It can cover only high-level information about your business value proposition (i.e. why a customer would want to buy your products and services) and business model.

A one-page plan can include details about:

• your business vision and values
• projected income and expenses
• identified business risks
• the customer segments you intend to target
• the value proposition of your business
• channels that could be used to reach your target customers (e.g. direct or online marketing)
• your customer service plan
• how you will receive payment for products and services
• the activities needed to achieve your outcomes
• the resources you will need
• details of any partners you will use to provide goods and services
• the cost structure for your products and services (based on all items as listed in the plan).

You can search online for tools that can help you create this plan—for example, a value proposition canvas or business model canvas .

Once you are satisfied with this short business plan, you can use it as the basis for your full business plan.

Communicating your business plan

Communicating your business plan to your staff and stakeholders is essential for implementing it and achieving your business goals, even when starting out with a small team.

Some practical tips for communicating the plan include:

• being mindful of your audience—different communication styles will suit different audiences (e.g. you may be able to communicate more informally with your staff than with your stakeholders, board members or investors)
• choosing an appropriate format, time and place—you could hold a staff meeting, schedule a business plan review session and invite all staff and stakeholders to attend, or create an online presentation
• using clear, concise and simple language
• making time to get feedback from your staff and stakeholders.

Read about skills for running a business for tips on developing your communication skills.

Learn about managing people through change .

Review and update your business plan

You will need to regularly review your business plan to ensure that it is relevant, achievable and up to date with any changes in your business.

Consider reviewing your business plan:

• at regular intervals (e.g. quarterly or annually)
• after a business SWOT analysis has been completed
• when raising capital (e.g. approaching the bank for a loan or pitching to an investor)
• before implementing growth strategies or new products
• when new staff members are added to the team
• when implementing a new organisational structure
• before changes in the industry or to legislation
• when preparing to sell the business .

To help you review your own plan, ask yourself the following questions:

• What will the review schedule be?
• Is the plan up to date?
• Have the business goals changed?
• Is the plan still matched to the business goals?
• Are market trends changing?
• Have there been major political, environmental, social or technological changes that affect your business?
• Have there been significant changes in your finances or need for capital?
• Is the plan still 'fit for purpose'?

Business planning resources and tools

The following planning resources and tools below can help you compile and update your business plan to ensure your business is on track to meet its goals.

• Small business planning webinar recording
• Writing a marketing strategy and plan
• Identifying and managing business risk
• Business processes, procedures and standards
• Plan your business finances
• Market and customer research
• Choosing and working with business advisers
• Networking in business
• Ask a mentor – business planning

Learn more about business planning with free, online courses .

Resources for finding licences, permits and codes of conduct

Use the Business Launchpad to discover all your licensing needs, compiled in your own customised guide.

You can also search for licences, permits and codes of practice using the Australian Business Licence and Information Service (ABLIS).

Learn about codes of conduct and codes of practices from:

• the Australian Competition and Consumer Commission
• WorkCover Queensland .
• Last reviewed: 8 Dec 2022
• Last updated: 1 Jun 2023

Benefits of a business plan

Your business plan outlines:

• your vision for the business
• the actions that will help you achieve it

When you are starting out, your business plan can help you to secure financing and investment. But your business plan does more than tell others what your plans are. A good business plan can help you test the feasibility of your new business idea, set operational and financial objectives, and make sure your business is manageable and effective.

You will need to revisit your business plan regularly as your business evolves and the business environment changes. These changes could include increased competition, advances in technology or the expectations of your customers.

What to include in your business plan

A clearly written business plan should include:

• the vision and direction of your business – where are you now and where do you want to be?
• a SWOT (strengths, weaknesses, opportunities, threats) analysis – a good business plan won't only identify ways to make your business idea work, it can also help you identify reasons why your idea might not work so you can address them before you invest time and money
• a force field analysis – for each issue identified in your SWOT analysis, identify the positives and negatives of each issue and the actions you will take to address the issue

Write your business plan

Whether your business is just starting out, you're looking to sustain or you're looking to grow, our guide to writing a business plan can help you clarify your goals, figure out your barriers and come up with a plan of action.

Video: How to write a business plan in 8 steps

View transcript.

Whether you're planning to start a business or have been running it for years, business planning is the key to your success. A business plan helps you get finance, gives you control and direction and helps you set priorities.

Step 1: Define your vision

When you start a business, you have a clear goal to achieve this vision. After some time, the clarity of your vision may become blurry. Writing down your vision will help you define it for your staff to identify with your mission. Where are you now? Where do you want your business to be in the future?

Step 2: Set your goals

Make your goals and objectives realistic. Plan your short-term, mid-term, and long-term goals, including choosing your location; the number of customers you plan to reach and your customer demographics; your sales targets - revenue and profit margins; what you will outsource; your required staff numbers; and your growth strategy. Planning this strategy will help realise your dream and make your business thrive.

Step 3: Define your unique selling proposition

What makes you different from your competitors? Highlight the characteristics that make your business stand out from your competitors. Is there demand for your range of products or services? What can your business offer to increase demand?

Step 4: Research your market

Who are your competitors? What product range or services do they offer? Where are the gaps? Where is demand greater than supply and for which products or services? What are the current and future industry trends? How do you leverage these opportunities?

Conduct a SWOT analysis to explore the Strengths, Weaknesses, Opportunities and Threats faced by your business; Think of all possible scenarios. List the issues and conduct a Force Field Analysis for each. This will help you determine clear actions to implement in order to address them.

Step 5: Know your customer

Do your research and define your target audience. Customers are spoilt by choice, so find out their buying habits. What does your ideal customer want? Get their feedback. Who are you targeting by age, gender, behavioural patterns or location? Find your niche.

Step 6: Set your marketing goals

Consider the product range and stock quantities to output or warehouse. Create a product development strategy. What is the price you should set to achieve your desired revenue? How will you handle distribution and delivery? What tools will you use for promotion?

Step 7: Define your marketing strategy

Include your chosen social media channels and engagement. How and where will you advertise - search engine marketing, print, radio or other media? Will you attend industry, trade or networking events?

Step 8: Talk to your accountant

Do your sums - are your financial goals and propositions realistic? How can you improve cash flow? How can you achieve your goals? Good business planning is a three-stage process:

• You PLAN for the future.
• You TRACK your progress.
• And you LEARN from your experience.

One of the most important things to remember is that a business plan is a living document. Just as your business evolves over time, so too should your plans. Set reminders in your calendar to revisit your plan every 3, 6 or 12 months. It's important to revise your goals according to your current status as changes occur over time. Make planning part of your business. It doesn't have to be onerous and it doesn't have to be done in solitude. Make it fun, get creative, and include others in your process.

For more information on business planning, visit business.vic.gov.au where you can access tools, workshops and resources to help you plan for your success.

Create your one-page action plan

A one-page action plan is an overview of the current situation, where you want to be and what you need to do to get there. It's also a practical way to record the outcomes of the planning process.

A one-page action plan has the following elements:

• 'Now' analysis – Summarise your current situation and issues in 4 or 5 points.
• 'Where' analysis – What is your vision? What is your competitive advantage? What are your key objectives?
• Strategies – What are the 3 or 4 key strategies you need to work on over the next 12 months? You can draw these from the SWOT analysis in your business plan.
• Action plans – List about 3 or 4 of the most important actions to complete to help achieve your strategies. You can draw these from the analysis of your key issues and strategies in your business plan.
• Timing – State when you aim to achieve the result and who is responsible for each task. These should be in priority order and are critical for accountability.

Get help in person

If you’re a first time business owner then you might need help working out how to action some of the steps you want to take. This might mean talking to an accountant, other business owners, a mentor, business coach or joining an industry group or your local chamber of commerce.

There's plenty of support available in Victoria to help you upskill and put you on the right track:

• Try one of our mentoring services or workshops .
• Get free advice and speak to subject matter experts with the Small Business Bus .

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FACT SHEET: President   Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade   Practices

President Biden’s economic plan is supporting investments and creating good jobs in key sectors that are vital for America’s economic future and national security. China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports. In response to China’s unfair trade practices and to counteract the resulting harms, today, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses.   The Biden-Harris Administration’s Investing in America agenda has already catalyzed more than $860 billion in business investments through smart, public incentives in industries of the future like electric vehicles (EVs), clean energy, and semiconductors. With support from the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act, these investments are creating new American jobs in manufacturing and clean energy and helping communities that have been left behind make a comeback.   As President Biden says, American workers and businesses can outcompete anyone—as long as they have fair competition. But for too long, China’s government has used unfair, non-market practices. China’s forced technology transfers and intellectual property theft have contributed to its control of 70, 80, and even 90 percent of global production for the critical inputs necessary for our technologies, infrastructure, energy, and health care—creating unacceptable risks to America’s supply chains and economic security. Furthermore, these same non-market policies and practices contribute to China’s growing overcapacity and export surges that threaten to significantly harm American workers, businesses, and communities.   Today’s actions to counter China’s unfair trade practices are carefully targeted at strategic sectors—the same sectors where the United States is making historic investments under President Biden to create and sustain good-paying jobs—unlike recent proposals by Congressional Republicans that would threaten jobs and raise costs across the board. The previous administration’s trade deal with China  failed  to increase American exports or boost American manufacturing as it had promised. Under President Biden’s Investing in America agenda, nearly 800,000 manufacturing jobs have been created and new factory construction has doubled after both fell under the previous administration, and the trade deficit with China is the lowest in a decade—lower than any year under the last administration.   We will continue to work with our partners around the world to strengthen cooperation to address shared concerns about China’s unfair practices—rather than undermining our alliances or applying indiscriminate 10 percent tariffs that raise prices on all imports from all countries, regardless whether they are engaged in unfair trade. The Biden-Harris Administration recognizes the benefits for our workers and businesses from strong alliances and a rules-based international trade system based on fair competition.   Following an in-depth review by the United States Trade Representative, President Biden is taking action to protect American workers and American companies from China’s unfair trade practices. To encourage China to eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation, the President is directing increases in tariffs across strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products.   Steel and Aluminum   The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.   Steel is a vital sector for the American economy, and American companies are leading the future of clean steel. Recently, the Biden-Harris Administration announced $6 billion for 33 clean manufacturing projects including for steel and aluminum, including the first new primary aluminum smelter in four decades, made possible by the Bipartisan Infrastructure Law and the Inflation Reduction Act. These investments will make the United States one of the first nations in the world to convert clean hydrogen into clean steel, bolstering the U.S. steel industry’s competitiveness as the world’s cleanest major steel producer.   American workers continue to face unfair competition from China’s non-market overcapacity in steel and aluminum, which are among the world’s most carbon intensive. China’s policies and subsidies for their domestic steel and aluminum industries mean high-quality, low-emissions U.S. products are undercut by artificially low-priced Chinese alternatives produced with higher emissions. Today’s actions will shield the U.S. steel and aluminum industries from China’s unfair trade practices.   Semiconductors   The tariff rate on semiconductors will increase from 25% to 50% by 2025.   China’s policies in the legacy semiconductor sector have led to growing market share and rapid capacity expansion that risks driving out investment by market-driven firms. Over the next three to five years, China is expected to account for almost half of all new capacity coming online to manufacture certain legacy semiconductor wafers. During the pandemic, disruptions to the supply chain, including legacy chips, led to price spikes in a wide variety of products, including automobiles, consumer appliances, and medical devices, underscoring the risks of overreliance on a few markets.   Through the CHIPS and Science Act, President Biden is making a nearly $53 billion investment in American semiconductor manufacturing capacity, research, innovation, and workforce. This will help counteract decades of disinvestment and offshoring that has reduced the United States’ capacity to manufacture semiconductors domestically. The CHIPS and Science Act includes $39 billion in direct incentives to build, modernize, and expand semiconductor manufacturing fabrication facilities as well as a 25% investment tax credit for semiconductor companies. Raising the tariff rate on semiconductors is an important initial step to promote the sustainability of these investments.   Electric Vehicles (EVs)   The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024.   With extensive subsidies and non-market practices leading to substantial risks of overcapacity, China’s exports of EVs grew by 70% from 2022 to 2023—jeopardizing productive investments elsewhere. A 100% tariff rate on EVs will protect American manufacturers from China’s unfair trade practices.   This action advances President Biden’s vision of ensuring the future of the auto industry will be made in America by American workers. As part of the President’s Investing in America agenda, the Administration is incentivizing the development of a robust EV market through business tax credits for manufacturing of batteries and production of critical minerals, consumer tax credits for EV adoption, smart standards, federal investments in EV charging infrastructure, and grants to supply EV and battery manufacturing. The increase in the tariff rate on electric vehicles will protect these investments and jobs from unfairly priced Chinese imports.   Batteries, Battery Components and Parts, and Critical Minerals   The tariff rate on lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024.   The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The tariff rate for certain other critical minerals will increase from zero to 25% in 2024.   Despite rapid and recent progress in U.S. onshoring, China currently controls over 80 percent of certain segments of the EV battery supply chain, particularly upstream nodes such as critical minerals mining, processing, and refining. Concentration of critical minerals mining and refining capacity in China leaves our supply chains vulnerable and our national security and clean energy goals at risk. In order to improve U.S. and global resiliency in these supply chains, President Biden has invested across the U.S. battery supply chain to build a sufficient domestic industrial base. Through the Bipartisan Infrastructure Law, the Defense Production Act, and the Inflation Reduction Act, the Biden-Harris Administration has invested nearly $20 billion in grants and loans to expand domestic production capacity of advanced batteries and battery materials. The Inflation Reduction Act also contains manufacturing tax credits to incentivize investment in battery and battery material production in the United States. The President has also established the American Battery Materials Initiative, which will mobilize an all-of-government approach to secure a dependable, robust supply chain for batteries and their inputs.   Solar Cells   The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024.   The tariff increase will protect against China’s policy-driven overcapacity that depresses prices and inhibits the development of solar capacity outside of China. China has used unfair practices to dominate upwards of 80 to 90% of certain parts of the global solar supply chain, and is trying to maintain that status quo. Chinese policies and nonmarket practices are flooding global markets with artificially cheap solar modules and panels, undermining investment in solar manufacturing outside of China.   The Biden-Harris Administration has made historic investments in the U.S. solar supply chain, building on early U.S. government-enabled research and development that helped create solar cell technologies. The Inflation Reduction Act provides supply-side tax incentives for solar components, including polysilicon, wafers, cells, modules, and backsheet material, as well as tax credits and grant and loan programs supporting deployment of utility-scale and residential solar energy projects. As a result of President Biden’s Investing in America agenda, solar manufacturers have already announced nearly $17 billion in planned investment under his Administration—an 8-fold increase in U.S. manufacturing capacity, enough to supply panels for millions of homes each year by 2030.   Ship-to-Shore Cranes   The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024.   The Administration continues to deliver for the American people by rebuilding the United States’ industrial capacity to produce port cranes with trusted partners. A 25% tariff rate on ship-to-shore cranes will help protect U.S. manufacturers from China’s unfair trade practices that have led to excessive concentration in the market. Port cranes are essential pieces of infrastructure that enable the continuous movement and flow of critical goods to, from, and within the United States, and the Administration is taking action to mitigate risks that could disrupt American supply chains. This action also builds off of ongoing work to invest in U.S. port infrastructure through the President’s Investing in America Agenda. This port security initiative includes bringing port crane manufacturing capabilities back to the United States to support U.S. supply chain security and encourages ports across the country and around the world to use trusted vendors when sourcing cranes or other heavy equipment.   Medical Products   The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026.   These tariff rate increases will help support and sustain a strong domestic industrial base for medical supplies that were essential to the COVID-19 pandemic response, and continue to be used daily in every hospital across the country to deliver essential care. The federal government and the private sector have made substantial investments to build domestic manufacturing for these and other medical products to ensure American health care workers and patients have access to critical medical products when they need them. American businesses are now struggling to compete with underpriced Chinese-made supplies dumped on the market, sometimes of such poor quality that they may raise safety concerns for health care workers and patients.   Today’s announcement reflects President Biden’s commitment to always have the back of American workers. When faced with anticompetitive, unfair practices from abroad, the President will deploy any and all tools necessary to protect American workers and industry.  

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Don't call them DINKs. Many childfree adults are ALICEs.

• DINKs are known for having disposable income, but some childfree adults are also struggling.
• In fact, many childfree adults are ALICEs — asset-limited, income-constrained, and employed.
• Without dependents, many low-income workers have a harder time accessing tax credits and government assistance.

America's DINKs — dual-income couples with no children — are known for having disposable income and spending their paychecks on major investments, luxury vacations , and early retirement .

These households have previously told Business Insider that they can spend extra money on their lifestyle because they don't have any child-related costs. By definition, DINKs aren't necessarily rich , but they do have a reputation for living a life of freedom and excess cash.

A growing number of child - free adults , however, are falling through the cracks of the US economy. Many low-income childfree adults fall into the ALICE category — people who are asset-limited, income-constrained, and employed. Twenty-nine percent of US households make too much to qualify for government assistance but not enough to comfortably afford daily life . And ALICEs who aren't parents face unique challenges: it is especially difficult to qualify for financial help or tax credits without young children, even if you need the help.

According to a report published in April by the Brookings Institution, the US doesn't have a strong financial safety net to support childfree ALICEs. This is partly because having financially dependent children is a prerequisite of some government assistance programs .

Poor, non-elderly adults who are not raising children and don't qualify for disability benefits made up nearly 106 million people in 2017, according to a Census analysis . What's more, they have a higher risk of experiencing homelessness and long-term poverty, per the Brookings report.

Low-income adults without children face barriers to government assistance

Low-income, childfree adults have a higher likelihood of falling into poverty, and often stay in poverty long-term because they can't access assistance, wrote Robert Greenstein, the author of the Brookings report.

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"The safety net for these non-elderly childless adults is so limited, those non-elderly adults who are poor tend to be poorer than others living in poverty," wrote Greenstein, who is also a visiting fellow of economic studies for the Brookings Institution, which is affiliated with The Hamilton Project, an economic policy initiative.

The report found that half of the Americans living in "deep poverty" — those with incomes that are at or below 50% of the poverty line, which is $7,290 annually for one person — are childfree adults not receiving disability benefits.

Greenstein wrote that this population is at a disadvantage when applying for government support, especially as it comes to tax credits and housing assistance, even if their household income is low.

For example, they don't qualify for the child tax credit , which allows families with dependents to receive thousands of dollars in tax breaks each year. The Earned Income Tax Credit — which offers refundable tax credits for low- and moderate-income workers — is also very limited for childfree employees, who receive fewer than 4% of the EITC's overall benefits, according to the Brookings report.

Greenstein also wrote that over 7 million low-income adults who are between the ages of 18 to 61 and don't live with minors pay more than 50% of their income on rent — making them severely rent-burdened. The majority of these adults don't receive any state or federal rental assistance.

Additionally, parents can more easily access SNAP food benefits than childfree adults because they are exempt from having to work a required amount of hours each week to receive assistance.

Many Social Security and Medicare programs also primarily offer assistance to older adults, excluding adults under 62.

Although strengthening the US financial safety net for this population is complex, Greenstein offered a few solutions. He suggested expanding the Earned Income Tax Credit to benefit more adults without children, along with removing the extra qualifications childfree adults must meet to access SNAP benefits.

An expansion of Medicaid through the Affordable Care Act would also allow more adults to get the healthcare they need — even if they don't qualify for disability benefits or Social Security, Greenstein said.

Are you making an income above the poverty line but still struggling to afford daily life? Have you faced challenges qualifying for government assistance because you don't have children? Reach out to this reporter at [email protected] .

Watch: Supreme Court strikes down Biden's student-debt relief plan

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How Queensland Plans To Achieve 70% Renewable Energy Targets By 2032

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Since the Queensland government in Australia released its landmark $62 billion Queensland Energy and Jobs Plan , the company that operates the region’s primary electricity network has sped up its transformation to help reach the ambitious target of using 70% renewable energy by 2032.

Powerlink is a Queensland government-owned service provider that runs a transmission network providing electricity to five million Queenslanders and 238,000 businesses. Managing 1700 kilometers of high voltage transmission lines and substations running from Cairns in Northern Queensland to the New South Wales border, Powerlink’s network is central to the region’s energy industry transformation, particularly the move to renewables.

“This is the biggest change in decades for us. We are connecting Queensland to a world-class energy future with a cheaper and cleaner supply,” said Mark Pozdena, general manager of business IT at Powerlink. “All of the renewable generators like wind and solar farms have to connect to our network. We are transforming the company to meet the massive influx of new work coming in with renewables. It’s an exciting time as we shift to source, deliver, and use electricity in ways that won’t be detrimental to the planet.”

Digitalization connects energy ecosystem

The centerpiece of the Queensland Energy and Jobs Plan is a SuperGrid that will be designed to bring all elements of the electricity system together to deliver 50% renewable energy by 2030, 70% by 2032, and 80% by 2035. Advancing from the company’s roots as a traditional electricity transmission operator, Powerlink is digitalizing to exchange data with partners along what’s morphed into a fast-growing energy value chain.

“Our strategy is working with our partners in government, the market, and communities to provide the right information across the ecosystem needed to build this new infrastructure,” said Pozdena. “Digitalization will help people securely access information to inform investments, guide plans, and successfully implement and manage projects.”

Cloud modernizes connected financial systems

Being a regulated organization in Australia, the company’s transmission activities bringing electricity from traditional generators to distributors is based on set pricing and profit levels. However, renewable energy sources like wind farms and solar panels have also stoked Powerlink’s financial transformation to manage the growing load of additional non-regulated work.

Learn more about preparing for the future of the utilities industry.

“We’re using SAP S4/HANA to transform financial operating models for the kind of data-driven decision making that’s essential in this new energy market,” said Pozdena. “Moving to the cloud, we’ve gained efficiency improvements and streamlined accurate spend allocations, whether it’s to the traditional regulated side of the business, or the up-and-coming non-regulated renewables. Integrating data from many places – internally and externally – on one cloud-based platform brings us tremendous opportunities.”

Pozdena said that digitalization is being extended to the field, replacing paper-based records with real-time work orders that are integrated into the SAP system. He expected enormous ongoing improvements in trusted data company-wide that will bolster informed decisions related to meeting climate targets, along with organizational objectives including human resources and planning.

Making space for clean, reliable, affordable power

Queensland is considered a leading-edge country for clean energy with a bold plan for renewable energy targets. Replete with large open spaces, it’s an attractive region for a growing number of solar, wind, battery, and hydrogen projects. Already the government has designated areas as renewable energy zones (QREZ) that are ripe for investment in renewables.

“This is a game-changer for not just Queensland and Australia, but the world,” said Pozdena. “For us, the exciting part is that Powerlink is in the middle of it because we’re the power transmission network. We’re going through unprecedented growth as a company, having doubled in size during the past few years. SAP SuccessFactors will help us provide a meaningful experience as people join our company, spanning recruitment, hiring, training, and development aligned with our changing business requirements.”

The power of connected data cannot be overemphasized. As Powerlink expands to areas with limited previous infrastructure, the company will use integrated data to help answer questions about safe expansion that protects property owners, existing wildlife, and sacred land designation. With digitalization, the company intends to take sustainable business to the next level.

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Treasurer says $300 energy bill relief could not have been means tested

Treasurer Jim Chalmers has defended giving a $300 energy bill discount to every household, arguing a universal approach was the only practical way to provide the support to middle earners.

Welfare advocacy group ACOSS said the bill relief, which was the centrepiece of Tuesday's federal budget, was "extraordinarily wasteful" and that the money should instead have been used to "target support to people most in need."

But Mr Chalmers told the National Press Club on Wednesday the relief could not have been restricted to households below a certain income, because it as not possible to share the relevant information with energy companies.

"The [tax office] has tax information, but they have no arrangements to share that with energy retailers," he said.

"We would have to change fundamentally the data-sharing arrangements, that would take time and money in order to do that."

Mr Chalmers said the only other immediate alternative would have been to target the relief to those who receive government payments such as the age pension or the unemployment benefit, since those people could be easily identified, an approach the government used previously when delivering energy bill relief.

But he said the government had decided against that approach because it also wanted to help middle earners.

"The judgement that we made was that the most efficient way to give cost-of-living relief to people on low and fixed incomes, but also people on middle incomes … was to provide it to every household.

"People on the highest incomes are not our focus, they're not our concern. But in the absence of redesigning or designing a new system of data-sharing and means testing amongst the energy retailers, we made the assessment that the best way to do it was to provide it broadly." 

David Pocock calls universal support "ridiculous"

The full package of energy bill relief, which also includes $325 in bill relief for a million small businesses, costs $3.5 billion. It will apply to bills in the 2024-25 financial year.

It will first require legislation, which the Coalition has signalled it will support despite Shadow Treasurer Angus Taylor accusing the government of taking a "bandaid" approach to cost of living pressures rather than addressing the underlying causes of inflation.

But the Greens and independent senator David Pocock have been more critical.

Senator Pocock told the ABC it was "ridiculous" to make the measure universal.

"I think maybe politicians are just out of touch. We've got three million Australians living in poverty in this country, and you're going to give me and other politicians on six figure salaries $300," he said.

"It doesn't make sense to me."

Grattan Institute CEO Aruna Sathanapally agreed the measure was not "well-targeted", suggesting this was not the optimal way to design cost-of-living relief.

ACOSS chief executive Cassandra Goldie said the energy bill relief, combined with the universal tax cuts announced earlier this year, made for a "gaping hole" in the budget.

"The government is deliberately and cruelly denying people receiving unemployment payments decent income support … The $300 energy rebate will be the only cash support the majority of people on JobSeeker and Youth Allowance will receive."

Chalmers says support will 'take the edge off inflation'

Mr Chalmers has also denied the energy bill relief would add to inflation.

"The very clear advice we got from Treasury was that by designing our cost-of-living package the way we have, we will take the edge off inflation and won't add to inflationary pressures elsewhere in the economy.

"We took that advice very seriously and we proceeded on that basis."

Shadow Treasurer Angus Taylor said the energy bill relief was "not going to the source of the problem."

"They are putting a band-aid on a bullet wound… When you plan to spend money it is inflationary… When you have $4 of spending for every dollar of savings, you are not fighting the inflation dragon that homegrown inflation that so many Australians are suffering with."

Greens leader Adam Bandt also called the measure a "bandaid" measure, arguing the government should have gone further.

"We would like to see electricity treated as an essential service. There's a lot more that could be done to bring down the cost of electricity… [the] budget is a betrayal of people who are doing it tough."

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